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Restatement might be alternative to multiple trust amendments

When people make a living trust, they are taking measures to protect themselves and their family from uncertainty should the unimaginable happen. While estate planning documents might seem like very definite legal documents, living trusts can often be changed. These changes might be as simple as amending certain parts of the document, and might not require an entirely new trust.

These amendments could help add a beneficiary or change a trustee of the trust, among many other things. However, as time goes on, and as a person adds more and more amendments to their trust, they may want to consider restatement. If a person adds five or six amendments to their trust, and if amendments replace other amendments, the document can get very confusing. To avoid confusion a restatement allows a person to basically redo the wording of their trust and make changes.

It is important that people make trusts that are easy to understand so the trustee can help execute the terms of the trust, which is their responsibility, should the trust need to be used. Many people might think that they can just copy the wording of the trusts and get the new copy that has some changes notarized.

Speaking with an attorney about establishing a trust or changing an existing trust might be a wise decision. They can help ensure that no detail is overlooked and that the newly revised trust is just as effective as the old trust. An improperly worded trust could lead to legal headaches at an inconvenient time.

Source: nwitimes.com, "ESTATE PLANNING: Trusts are not a do-it-yourself job," Christopher W. Yugo, Jan. 13, 2013

-Trusts can be complex legal tools and of great benefit to many people. Please visit our website to learn more about trusts and other important estate planning documents.

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